Is Exchange Bank FDIC insured?
Yes, Exchange Bank is an FDIC-insured financial institution. Deposits held in traditional accounts like savings, checking, money market accounts, and certificates of deposit (CDs) are automatically insured by the FDIC up to the standard coverage limit of $250,000 per depositor, per ownership category. This protection ensures that your funds are secure in the event of a bank failure. As with any bank, it is important to note that non-deposit investment products, such as stocks, bonds, mutual funds, or annuities, are not protected by FDIC insurance, even if they are purchased at the bank.
Related FAQs
Yes, Exchange Bank is categorized as a community bank. It offers a variety of personal and business banking services tailored to its local customer base, including mortgages, home loans, lines of credit, and SBA loans.